The Indonesian offshore vessel operator posted net income of just $100,000 for the first quarter versus $8m a year ago.
Revenue was down 39% year-on-year to $29.2m, negatively impacted by severe cutbacks in oil and gas spending.
“After the steep drop in oil prices since late 2014, oil and gas companies all over the world have been cutting back on expenditures and retrenching staff,” the Jakarta-listed company said.
“As
